Equities Analysts Set Expectations for Beam Global’s Q1 2024 Earnings (NASDAQ:BEEM)

Beam Global (NASDAQ:BEEM) – Research analysts at B. Riley issued their Q1 2024 earnings estimates for Beam Global in a note issued to investors on Thursday, April 18th. B. Riley analyst C. Souther forecasts that the company will post earnings of ($0.25) per share for the quarter. B. Riley has a “Buy” rating and a $15.00 price objective on the stock. The consensus estimate for Beam Global’s current full-year earnings is ($0.50) per share. B. Riley also issued estimates for Beam Global’s Q2 2024 earnings at ($0.18) EPS, Q3 2024 earnings at ($0.10) EPS, Q4 2024 earnings at ($0.05) EPS, FY2024 earnings at ($0.58) EPS and FY2025 earnings at $0.71 EPS.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC reiterated a “hold” rating on shares of Beam Global in a report on Thursday, April 18th. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Beam Global in a report on Thursday, April 18th. Finally, Roth Mkm restated a “buy” rating and set a $9.00 price objective on shares of Beam Global in a report on Tuesday.

Beam Global Stock Performance

Shares of Beam Global stock opened at $6.60 on Monday. The company has a market capitalization of $95.30 million, a PE ratio of -4.49 and a beta of 0.82. The company has a 50-day simple moving average of $6.72 and a two-hundred day simple moving average of $6.47. Beam Global has a one year low of $5.00 and a one year high of $13.66.

Hedge Funds Weigh In On Beam Global

Hedge funds have recently modified their holdings of the stock. Pathstone Family Office LLC boosted its position in Beam Global by 13.9% in the third quarter. Pathstone Family Office LLC now owns 18,850 shares of the company’s stock valued at $139,000 after buying an additional 2,305 shares during the last quarter. PFG Investments LLC boosted its position in Beam Global by 97.0% in the first quarter. PFG Investments LLC now owns 23,051 shares of the company’s stock valued at $157,000 after buying an additional 11,348 shares during the last quarter. Barclays PLC purchased a new stake in Beam Global in the third quarter valued at approximately $128,000. Jump Financial LLC purchased a new stake in Beam Global in the third quarter valued at approximately $130,000. Finally, Calton & Associates Inc. purchased a new stake in Beam Global in the third quarter valued at approximately $143,000. Institutional investors and hedge funds own 26.59% of the company’s stock.

About Beam Global

Beam Global, a clean-technology innovation company, engages in the design, development, engineering, manufacture, and sale of renewably energized infrastructure products and battery solutions. Its product portfolio includes EV ARC (electric vehicle autonomous renewable charger), an infrastructure product that uses integrated solar power and battery storage to provide a mounting asset and a source of power for factory installed electric vehicle charging stations; Solar Tree DCFC, an off-grid, renewably energized, and single-column mounted smart generation and energy storage system to provide a 150kW DC fast charge to one or more electric vehicles, such as electric buses, heavy-duty vehicles, agricultural equipment, public transportation, and electric vehicles used in the construction industry; and EV ARC DCFC, a DC fast charging system for charging EVs.